Inexpensive hotels and swaying palm trees have long attracted travelers to Southeast Asia, but Singapore is doubling down on a different strategy — focusing on increasing tourism receipts instead of traveler arrivals.
Officials on Friday outlined a plan to increase tourism revenue in the city-state from a record-breaking $29.8 billion in 2024 to $47 billion-$50 billion in the next 15 years.
Singapore’s “Tourism 2040” strategy centers on increasing demand from two distinct groups — business and stopover travelers, Grace Fu, Singapore’s minister for sustainability and the environment, said at the country’s Tourism Industry Conference 2025.
Officials aim to triple tourism revenue from so-called “Mice” travelers, or those who travel to attend meetings, incentives, conventions and exhibitions, Fu said.
“On average, a Mice visitor spends two times as much as a leisure visitor, making it an exceptionally valuable segment for Singapore,” she said. “The global Mice sector [is] expected to double in value over the coming decade.”
The country is also looking to develop a new Mice hub in the downtown area of Singapore, said Fu.
Benefits of the Mice industry go beyond tourism receipts, Singapore Tourism Board CEO Melissa Ow said at the event.
They “will further deepen our connection to priority industries, enable us to grow our economic heft by convening influential actors and thoughts leaders in Singapore, thereby amplifying our status as the World’s Best Mice City,” she said.
Ow announced that Singapore had secured its largest Mice event yet, Herbalife Extravaganza 2026, which she said is expected to draw 25,000 visitor arrivals.
Stopover travelers are also expected to bring more tourism revenue, especially after the opening of Changi Airport’s Terminal 5, which is scheduled for the mid-2030s.
A new terminal opening in the mid-2030s is set to increase stopover travel at Singapore Changi Airport. The airport was named Skytrax’s “World’s Best Airport” in 2025, its 13th time holding this title.
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World-class attractions and cruising
Still, leisure travelers will remain important to the city-state, Ow said.
To attract them, Singapore will continue to focus on providing “world-class attractions,” she said — a strategy that the country has employed to compete with cheaper tourism draws in the region.
New attractions are in the works, including the Singapore Oceanarium slated to open later this year, followed by the Porsche Experience Center and a new Science Centre in 2027, said Ow.
Singapore also aims to strengthen its position in Asia’s growing cruising industry, she said.
She referenced the high-profile launch of Disney Cruise Line’s “Disney Adventure” — which will begin operating in Singapore in December — and the introduction of Ritz-Carlton Yacht Collections’ Luminara, a luxury superyacht set to begin sailing from Singapore in December.
Grace Fu, Singapore’s minister for sustainability and the environment, said Singapore is expanding the Marina Bay Cruise Centre to help establish Singapore as a top spot for cruisers in Asia. “This $40 million investment will increase the terminal capacity from 7,000 to 12,000 passengers, reinforcing Singapore’s status as a leading cruise hub in the region.”
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Beyond cruising, the island is also well-positioned to capture a rise in wellness tourism, said Ow, citing its “unique value proposition as a city in nature.”
She said Singapore Tourism Board identified longevity travel and “wellness hotels” as ways to drive visitor spend and repeat visits.
Entertainment ambitions
The Singapore Tourism Board will intensify efforts to draw more world-class sports, lifestyle and music events, Ow said, citing upcoming concerts by Lady Gaga, while Elton John and K-pop rapper G-Dragon are set to perform at the Singapore Grand Prix in October.
Ow said new venues will open during the next several years, including a new theater at Gardens by the Bay and an arena at Marina Bay Sands, the island’s largest hotel.
For young basketball fans, Singapore will host an NBA Rising Stars Invitational for youths aged 18 and under — a first for the league — with exclusive coaching sessions and meet-and-greets, said Fu.
Singapore welcomed 16.5 million international arrivals in 2024, well below the 19.1 million that arrived in 2019, according to the Singapore Tourism Board.
Ow said the board is identifying new tourism markets, such as Saudi Arabia and Kazakhstan, to increase and diversify visitors to Singapore.
Correction: This article has been updated to reflect that Singapore is expecting tourism revenue to increase from $29.8 billion in 2024 to $47 billion-$50 billion by 2040.